South Korea's KB Group invests $100 mn in Elev8 Venture Partners Fund

Financing will help Elev8 identify investment opportunities in Indian technology companies

KB Group, South Korea's largest financial services provider, will ally with Elev8 Venture Partners as an anchor investor and through its subsidiary KB Investment. KB has committed $100 million, including co-investments, to the Venture Catalysts-backed fund.

KB Group will work with Elev8 to identify investment opportunities in Indian technology companies and to support it with portfolio management. Elev8 will further help its portfolio companies expand in Southeast Asia.

The firm said in a statement KB's global experience, operational capabilities, and network of strategic relationships will assist Elev8's portfolio companies to expand their global presence and strengthen its products in markets.